As we approach the Private Brand Movement Conference next week, September 19-21 at the Sheraton Hotel & Towers in Chicago it is exciting to feature posts on the speakers, this one takes a closer look at the presentation by, Jonathan Sands, Chairman and Sarah Dear, Group Client Service Director of the branding and design agency Elmwood.
Don’t miss the opportunity to take part in this groundbreaking event!
Is “good, better, best” enough?
For years, Private Brand has followed the “good, better, best” model – “good” being typically the opening price point, “better” miming the national brand equivalent and “best” is the premium, more pricier range that fattens margins.
This long-established model assumes that consumers shop logically based on price bracket. Of course, a glance in any shopping cart proves otherwise. Sometimes the cheap stuff will do, other times it won’t; some brands we love, others we ignore. Emotion and experience affects our shopping decisions just as much as the rational argument.
When private label operates on a more emotional level, it becomes a very powerful business tool. Because customers want more than just three price brackets – they want inspiration, excitement, an ally – and they’re attracted to those products with a point of view that they can relate to.
Pets at Home in the UK took their first step into private label with the launch of a premium range that was better than the national brands but cost the same. Customers couldn’t directly compare it with the national brands because the products weren’t the same. But more importantly, the brand was warm, playful and passionate about animal health, which resonated with pet lovers everywhere.
But this is all a history lesson. What’s exciting for the future is how private label can tap into customers’ emotional needs and behave more like “real” brands, using digital and social media to bring packaging to life. Up ahead, there’s a real opportunity for Private Brand to finally come of age.
Join Jonathan Sands, Chairman of brand design agency Elmwood, and Sarah Dear, Group Client Service Director, at The Private Brand Movement as they discuss the power of private label as a retail tool. Used correctly, Private Brand can drive traffic as well as boost margin and differentiation.